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the talks blowing up right in front of our eyes. even as the averages denied washington's gravitational pull, the dow gaining 60 points, s&p climbing .55%, nasdaq advancing .20%, we know when the president or the speaker of the house comes on the tube these days, the market is going to get hammered. sell, sell, sell, sell, sell, sell. even if it is just temporary. >> sell, sell, sell. >> the only thing you need to know is the time they're going to come on. if you could just blast out of some aggressive growth stocks or sell some s&p futures when see them walk to the podium, you could probably coin money! i'm surprised the president doesn't start his talks by saying, look, look, america, i'm about to send the s&p 500 down a percent with what i say. how about the speaker? maybe he should say you better dump your apple now. suffice it to say we all have to keep one eye on washington and hope they don't poke it out with their endless failure to rise above partisanship. when we started this campaign, i'm sure a lot of people said don't worry, they'll do it. today was like the worst day yet. the t
to a deal in washington today. you can tell from the sell-off, investors do not like it. >> no, posting their largest decline since november 14th, in case you were wondering. although we are off the lows of the session right now. the dow was down 189 two hours into the trading session. we've come off those lows. but at this point, the dow is down 1% for the week and we are down 1% today at 13,173. nasdaq lower, as well. let's see how many percentage points we're down right now. down 1.25%. the technology sector is taking a bigger hit today. down to 3,012 on the nasdaq and the s&p 500 index is down 1% at 1428. . >> house speaker john boehner says he's still open to a offer from the democrats. >> it was a dramatic evening last night. john harwood was there. he has the latest on the on talks. are there any talks, john? >> i think so. but they're pretty muted. this bill was not win of those weeks that makes washington look good. come to think of it, there aren't many weeks that make washington look good. but this was especially especially difficult because you had negotiations getting close
that is the debate that is going to rage, especially after that nra presser today in washington. but for this town, for this moment, for this day, it is not about that. it is very important, but it is about the people and the victims and remembering them and commemorating them in beautiful ways just like this one, brooke. >> absolutely, poppy harlow, thank you so much for us in newtown. wasn't thrill a presser the nra gave, a statement, no questions answered afterward. the nra also held a moment of silence at 9:30 this morning today for the 20 children and the 6 adults slaughtered last friday in newtown schoolhouse. but hours later, the nra spelled out its own plan to prevent similar massacres in the future. the message from wayne lapierre, put guns in every school now. >> and does anybody really believe that the next adam lanza isn't planning his attack on a school, he's already identified at this very moment? how many more copycats are waiting in the wings for their moment of fame? the only thing that stops a bad guy with a gun is a good guy with a gun. i call on congress today to act immediatel
, what happens next? "the washington times" says the collapse of plan b is a disaster for john boehner. an embarrassing setback for the republicans. "the wall street journal" says there are questions for john boehner to lead his party in further negotiations. 10 days before the looming fiscal cliff. this morning we will be taking your calls and comments. we will sort through what happens next. the phone lines are open. send us an e-mail, a facebook comment, or a tweet. let's look at the headlines from "the new york times." a similar headline this morning from "the washington post." maynard dropped the effort to avert the fiscal cliff. -- the john boehner drops the effort to avert the fiscal cliff. this from "the washington -- the wall street journal." the deadline looms with the fiscal cliff, that story available on line. joining us live, meredith who has been following this since it started. what happened to the caucus last night? caller: there is the surface answer, what happened when they were leaving the room. i think the most telling detail and what you have seen and the most outl
. chief washington correspondent ed henry live in the white house briefing room with the administration latest effort to reach a deal. with a last minute pitch from the president. the president seems to be saying go home for the holidays, take a deep breath. ref lax. come back. get it done. >> good evening, john. high drama here. when the president is leaving for hawaii in 90 minutes from now. first, though, he met at the white house with senator reid and he called the speaker boehner and came out on the podium behind me. he laid out three-point plan that he thinks can pass if ten days. extend tax cut for 98% of the public. extend unemployment benefit for 2 million people. come back to deal with spending cut and deficit reduction. he said that was achievable by january 1 to avoid the cliff. after last night, unclear whether anything can pass. >> just as the economy is really starting to recover, and we're starting to see optimistic signs. we have seen, actually, some up-side statistics from a range of areas clouding housing, now is not the time for more self-inflicted wounds. certainly
lunch." we have three major news conferences in washington, d.c. president obama will nominate senator john kerry to be his next secretary of state. harry reid will be on the senate floor and house minority leader nancy pelosi will discuss the cliff crisis. with plan b history, washington is scrambling to get a deal done. the markets however are decidedly worried. dow jones has been down triple digits almost all session. we are off our worst lefs, down about 174 point a few moments ago. down 152 on the dow. 17 to the minus side and nasdaq is off almost 40. let's go to washington where john har wood is standing by with the latest on the fiscal cliff follies. john? >> all follies so far, sue. we had house speaker john boehner come out today and have a news conference explaining the failure of his plan b last night which stunned a lot of people because both boehner and eric cantor majority leader said they were confident they had the most to pass it. what he said today at a news conference is that there were members who had a perception which he said was incorrect. it would raise taxes. t
closing bell." the market down today. washington is not even close to reaching a deal to avoid the fiscal cliff. we had a triple digit decline today. here is how we're finishing the day on wall street. at the lows, dow was down 189 points. by the close, we came a fair amount of the way back from that sharp decline in the morning hours. volume very heavy today. that's how he saw a lot of shifting in the volume for the day. 1.2 billion shares here. nasdaq gave up that 29 points at the close and the s&p 500 down 13.25 points. five trading days left until the fiscal cliff deadline. seven days until congress is back in washington. raymond james says he's expecting the santa claus rally. jeff is with me now also dean from barclay's, peter anderson and our own rick santelli. jeff, how can this market rally when there's still so much uncertainty out there? >> i am surprised the market held up as well as it did today, maria. it had every reason to be down four or 500 points. historically, the week after christmas it's up about 70% of the time with a little over a percent gain. and i think you're g
? as with anything related to washington, there's no easy answer to why we didn't crash today. let me walk you through three different scenarios. gigantic sell-off is right around the corner. we'll get hit hard. it just hasn't happened yet. i got tons of e-mails last night from different theoristheorists. it's just a matter of time. 11%. 15%. people say you ain't seen nothing yet. anything is possible. i wouldn't count on a sell-off. we deserve to sell-off 7% immediately upon initial failure of t.a.r.p. legislation because it was teetering on the abyss. atms that might not work because of hefty cash withdrawals. there's always a way to avoid a catastrophe which brings me to the second reason why we didn't collapse. with the debt ceiling deal we got last year, never forget politicians can always agree on something. something small. without any violation of principles. the politician that took no increase tax pledge governor norquist can't vote for one. don't ask him to. he can't vote for one even if the speaker of the house tried for a tax increase. memo to washington who people think there can
leaders in washington. good morning. not an easy night for speaker john boehner. >> yes, he is coming off as having a very difficult day. he was hoping that his fellow republicans would rally around his across-the-board tax hikes that come with a fiscal cliff great he was asking fiscal conservatives to swallow some tax hikes. only on those that make more than a million dollars per year for some, that was a bridge too far. >> he is my speaker and i support him strongly. he is in a very difficult position. but i just happen to disagree with this in the correct message. raising taxes on any american, to me is not the right message at all. it is cutting spending. >> the speaker points out that the house has passed a measure that will stop all the tax hikes next year. as he said, it is all in the hands of the senate. bill: will we hear from the president? swivels democratic governments do in response? >> and i think the short answer is probably not much. at least not in the immediate offering here. the senate is in session today, but there's nothing more until later next week. as for the presi
>> welcome to the program. we're in washington for a conversation with al hunt and julianna goldman of blockberg news about the events this week, 9 fiscal cliff, questions about gun control, and others. >> was talking toome negotiating experts this week as i was work on a story about the relationship between the speaker and the president. and they say that in effective negotiation the person with the leverage needs to let the other party save face. and in this situation the president does hold the cards. he has the leverage and by giving the concessions on medicare, on medicaid, on social security, he would have taken a lot of heat from progressives who were already starting to hear that this week. and they that would have been through the saving face that could have helped john bayne never this. >> we continue with george stens founder of the kennedy center honors program and the american film institute. >> president kennedy said i look forward to an america that will not be afraid of grace and bite. i look forward to an american that will honor achievement in the arts, the way we
live. melissa: we start tonight with breaking news. it has been a tumultuous day in washington. both sides apparently in a total deadlock in the fiscal cliff negotiations. president obama is expected to make a statement on where things stand at any moment here. and with a preview we have fox businesses peter barnes. he is at the white house. peter what do we expect to hear? >> well, melissa, right now the president is finishing up on meeting with senate democratic leader harry reid who came down here to try to talk with the president with some strategy moving forward to avert the fiscal cliff. we expect the president to say that he still wants to get a deal with republicans to do that. that is still going to be time. however, that they will have to do it after the christmass3 holiday. the president plans, is planning to go to hawaii for christmas with his family. speaker boehner has left town. gone back to ohio. for the holiday. the senate is expected to come back on, on december 27th, the thursday next week, which is the earliest that they would be expected to get back to work on th
are always relatively optimistic about the economy, but even after last night and what we in washington? >> sure. you know, yes, the fiscal cliff is coming. we have known him for a long time. the dow is still over 13,000. it is not just because the market thinks we have the great deal ever. tax rates will go up. we will have deficits, as far as the eye can see. by the way, we had pretty darn good news on personal income and spending and durable goods today. the economy is hanging in there, as well. connell: i thought it would be interesting to watch the close, because to me, maybe a deal is more likely after last night because the speaker, if anything, lost his leverage. how do you view that part of it? >> in the end, there is really an infinite number of outcomes. we believeethere is really just about 25% chance that we just go over the cliff unimpeded. the sequestration happens and all of the tax hikes. some kind of deal will probably get done. if the house were to pass that bill, it could go into law. it would keep dividend and tax rates from going higher. they just cannot reach a de
in washington. after trading near breakeven for most of the day, the dow moved up in the last hour of trading to close up nearly 60 points. the nasdaq added six, the s&p up almost eight points. >> susie: on capitol hill tonight, lawmakers in the house of representatives are getting ready to vote on a fiscal cliff bill. house speaker john boehner calls it "plan b" and it is expected to be a close vote. the bill proposes to extend tax breaks for everyone making less than $1 million. the move comes as talks to avert the fiscal cliff hit an impasse. darren gersh reports. >> reporter: as washington looks over the edge of the fiscal cliff, democrats and republicans were throwing elbows and getting personal. speaker boehner explained why he pushed the house to vote on a republican plan "b" tonight. >> i did my part, they did nothing. and frankly, i'm convinced that the president is unwilling to stand up to his own party on the big issues that face our country. time is running short. the house will act today, and then it will be up to senate democrats and the president to act. >> reporter: the white
: chris joining us from philadelphia, democrats' line with representative rick larsen from washington state. caller: thank you, c-span, for what you provide the american people. i find this whole situation ironic. the fiscal cliff scares me personally -- and i think president obama certainly has shown his willingness to compromise whereas the republicans and tea party do not seem to want to do so. this ideology they are sticking to will ruin our economy and i find it hypocritical because their chief criticism of the president during the presidential campaign was his mismanagement of our economy and they are willing to mismanage our economy down the drain on some principal. it does not seem they care about the american people. they care about the part of the american people, the rich, that is what seems like to me and i am sick of it. i used to be republican and i switched party about, i guess eight or 10 years ago. which has something to do with philadelphia politics as well because you cannot have much say in philadelphia politics unless you are democrat but that is beside the point.
. >> good morning. >> and in washington, msnbc and "time" magazine senior political analyst, mark halperin. >> listen to the song. ♪ waiting for the end of the world ♪ >> good call, kid. elvis costello. "end of the world." >> "end of the world." it's here. no. no, no. >> what's this "new york post" stuff? what's going on? >> i don't know. olympic gold medalist turned prostitute. >> are you serious? >> the thing about the "post," they are always on the pulse. >> exclusive piece or is it in "the times," too? >> here's -- i'm glad it's going on in new york. they're getting ready for the holiday season. >> they've got their eye on the ball. >> i don't know what's going on there. >> let's just throw those away. john boehner had a bad night last night. >> yeah. a picture on the front page of "the new york times" seemed to say it all. >> yeah, my goodness. >> look at his face. >> he said a prayer last night. he undertook a gambit. he decided that he was going to walk away from negotiations and try to get republicans to support a tax increase on people making $1 million or more. without any sp
rose. . >> rose: we're in washington where fiscal cliff negotiations continue. as we taped this program it is 5:30 p.m. the house of representatives is expected to vote on the republican plan b later it this evening. house majority leader eric cantor urged democrats to support the bill which extends the bush tax cuts on income over 1 million. >> we house republicans are taking concrete actions to avoid the fiscal cliff. absent a balanced offer from the president, this is our nation's best option. and senate democrats should take up both of these measures immediately. and the president has a decision to make. he can support these measures or be responsible for reckless spending and the largest tax hike in american history. >> rose: the white house has pledged to veto plan b as 2012 comes to a close it remains to be seen whether law lakers will rise above partisanship or avert fiscal crisis. joining me al hunt and july yana goldman. we want to talk about the fiscal cliff. we want to talk about white house appointments. we want to talk about gun control and we want to talk about hearings o
: kwame holman updates washington's spending and tax stalemate after house republicans decide not to follow the leader. >> brown: and mark shields and michael gerson analyze the week's news. >> woodruff: that's all ahead on tonight's newshour. >> major funding for the pbs newshour has been provided by: >> bnsf railway. >> support also comes from carnegie corporation of new york, a foundation created to do what andrew carnegie called "real and permanent good." celebrating 100 years of philanthropy at carnegie.org. >> and with the ongoing support of these institutions and foundations. and friends of the newshour. and... >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> brown: the remaking of the obama administration's foreign policy team began today as the president nominated massachusetts senator john kerry to replace hilary clinton as secretary of state. the former presidential candidate who lost to george w. bush in 2004 got the nod after u.n. ambassador susan rice withdr
the fiscal cliff. not just yet. they have not come to a solution in washington. that is front and center. we are also seeing a flock to the area that are safe. the dollar is higher. gold is higher. we are also -- there is a look at the dow jones one week. last friday we close that 13,135. we are still actually of about 30 points for the week. that is if we were to close right here. for right now, certainly, read on the screen because there is so much concern about washington. melissa: thank you so much. many believe the speaker in the senate, but it did notie -@even make it through the house last night. i next asked is not confident it will happen within the next year. >> we will see what the president says. after what has happened this week, it is not clear what the way forward is. it is more likely than not that we will grow into january without a deal. melissa: what does that really mean for the economy? >> it is to businesses to decide when they change their holdings. there is some spending programs that will be extended. they are uncertain about the outlook. there are a variety of ways
say he should win easy confirmation in the senate. staying in washington, and president obama is increasing the pressure on the country's powerful gun lobby's and calling for stricter regulations on assault weapons. he has also challenged his fellow gun control advocates to take a clear stand on the issue. >> america had a moment of silence for the victims of the newtown massacre. exactly one week ago, a young man armed with a semiautomatic rifle gunned down 20 people in connecticut. meanwhile, the national rifle association has taken a hard- line stance on the issue, calling for armed security guards in every american school to protect students. >> the gun owner's organization has proposed the establishment of a national school shield program, saying a bad guy with a gun can only be stopped by a good guy with a gun. the head of the inner raymond it clear that the nra opposes new gun laws. pro-gun control activists twice disrupted the press conference in washington. russian president vladimir putin has made sharp comments about a european energy law, saying it causes confusion
is that? tom foreman is in washington to speculate. good morning. >> reporter: hi, carroll. we don't know what that means. there's been speculation it will have something to do with mental health issues because certainly at a lot of local levels people talked about that on the republican side. people on the conservative side saying that has to be addressed as much, perhaps more than the gun issue itself. so we're expecting that may be the direction to go but the truth is we don't really know. what we do know is that the nra was quiet immediately after this. they often are after such incidents and they usually say as they did this time out of respect for the community and the family involved but now that a little bit of time has passed what we would certainly expect here is that there would be a clear message to the white house and to others which is be careful about overreacting at this point because the nra will push back and certainly they have proven that politically they have the power to do it not only nationally but certainly at the state level. carol? >> tom foreman reporting live
days. once this legislation is agreed to, i expect democrats and republicans to get back to washington and have it pass both chambers. and i will immediately sign that legislation into law before january 1st of next year. it's that simple. >> it's that simple. he urged congress to think of the american people this holiday season. >> i hope it gives everybody some perspective. everybody can cool off. everybody can drink some eggnog, have some christmas cookies, sing some christmas carols, enjoy the company of loved ones. and then i'd ask every member of congress while they're at home to think about that. think about the obligations to the people who sent us here. >> today's news comes after the right wing handed speaker boehner a crushing defeat last night. they refused to support his plan b because it wasn't extreme enough. so what was his plan c? let everyone go on christmas vacation. and as for that that deal on taxes? the speaker doesn't have a clue. >> what are we going to do now? >> i'm interested in solving the major problems that face our country. >> how we get there, god only k
for staying with us for the next hour. do you want to know what just happened tonight in washington? do you want to know what just happened, with congress just unexpectedly imploding and the republicans in congress dissolving into a huge internal fight, including screaming matches within their own caucus and all of a sudden they're just turning off the light and abandoning what they were doing and nobody really knows why and nobody knows what happens next? do you want to know how we got here and why this just happened and why it's really important? let us start here. okay? this is jim demint. jim demint was re-elected senator for south carolina not this past election, 2012, but in 2010. you might remember he was the guy who had the good fortune in 2010 to be running against a young man named alvin green on the democratic side. it was not a hotly contested race. mr. demint won by 34 points. and that freed him up to spread a bunch of his own campaign cash and his own energy that year on other campaigns and other candidates that he favored. and that has been the way that jim demint has built h
reporter danielle nottingham reports from washington. >> reporter: the national rifle association faced the media for the first time since the deadly school shooting in connecticut. >> now we must speak for the safety of our nation's children. >> reporter: soon after nra's ceo wayne lapierre started speaking, a protestor held up a sign. after the demonstrator was removed, lapierre said gun control is not the answer. >> the only thing that stops a bad guy with a gun is a good guy with a gun. >> reporter: the nra is addressing the media here in washington under pressure to soften its stance on gun control. members of the public and the president are pushing for new restrictions on gun sales of a gun control petition on the white house website has received more than 400,000 signatures. >> we hear you. >> reporter: the president acknowledged the outpouring of support and he once again called on congress to pass new legislation. >> there's even one thing we can do as a country to protect our children we have a responsibility to try. >> reporter: the president has asked the nra to join a broa
is focusing on washington. house speaker john maynard could be garnering support to promote his plan for tax breaks for wealthier americans. there are concerns that the republican caucus will be able to come together to pass any kind of deal right now for the fiscal cliff. with that dow futures are tumbling in their off 182 points right now. consumer spending is out 0.4% personal income is also up 0.6%. wall street's entire focus is this impending fiscal cliff. we could see a very sharp drop on wall street when the markets opened 20 minutes from now. >> chevron is moving up to 800 jobs of the bay area to taxes over the next two years. most of the jobs are technical positions and information in advance energy technology. chevron's headquarters was to be based in san ramon were about 3500 people work. in recent years the company has been focusing on oil exploration and production and higher petroleum prices have made pumping and selling oil far more profitable than refining it into gasoline. >> california's utility regulators and decided to allow these you need to pass on part of the cost of t
on this friday. thank you for joining me. the logjam in washington dc. the perception is one step closer to tottering over the fiscal cliff after john boehner failed to rally his troops. canceling the vote on plan b last night, and harry reid making a speech. let's take a look at where we stand with the dow jones industrial down 138 points. we have been down more than 189 points earlier. don't even imagine last night when neil cavuto is like looking at futures, which was plummeting. if it is not as bad as it could've been. but the market is terrible. as we look at what we call the hot button here. we have bank of america and caterpillar. all of that pales in comparison with research in motion. the stock getting taken out to the woodshed. the services business is about 30% of revenue. to be pretty clear about this, research in motion change the pricing model for 2013, and the impression is it the thumbs down. totally different story for investors. the software maker jumping about 4.5% here. better than expected third-quarter numbers. prescription revenues are up year-over-year. we are goi
here on capitol hill in washington, d.c. this friday morning, december 21st, now three days, three shopping days left until christmas. you don't have to worry about the end of the world any more. just go out and party like, you know, nothing ever stops you, and shop until you drop. and listen to us on the way as you are getting ready and watch us here. you can do that on current tv of course. you can listen to us on your local progressive talk radio station and on sirius xm this hour only. maybe that will change one of these days when they come to their senses. it's good to have you with us today. there is a lot of news to talk about. vice president biden having his first meeting of the tax force on -- task force on guns meeting with law enforcement officials and meeting with members of the president's cabinet. and last night, a bombshell on capitol hill when john boehner couldn't get enough republican votes to even have a vote on his so-called plan b, a col lossal embarrassment for john boehner. we have all of that to talk about. so that's why we
of tax increases and spending cuts has been the ultimate political football in washington. there is little sign of any holiday good cheer. >> in washington, the fiscal cliff a stalemate remains. >> the latest on the fiscal cliff. >> the ugly phrase that is on everyone's lips, fiscal cliff, is what america could tumble off and 11 days. it means that if the president and congress cannot agree on a plan to sort out finances, there will be automatic savage cuts and brittle tax rises. neither side is budging much. >> it is very hard for them to say yes to me. at some point, they have got to take me out of it and think about their voters. >> four weeks, the white house said that if i move on rates, they would make substantial concessions on spending cuts and entitlement reform. i did my part. they have done nothing. >> it would mean automatic spending cuts worth more than a trillion dollars. taxes for the average household would go up by about three and a half thousand dollars. most economists say the u.s. would be put back into recession and global growth could be halved. the u
also gained ground yesterday on optimism a budget deal will emerge out of washington. meanwhile, the sleepless in america are creating a boost in business. consumers spending on treatments for insomnia shot up from $24 billion 4 years ago to $32 billion now. fortunately, it's a bumper year for the coffee crop in brazil. the country is harvesting its biggest coffee crop ever. and peter madoff is sentenced to the max of 10 years in prison for helping his brother bernie in their infamous ponzi scheme. scott bauer of trading advantage joins us on this friday morning for a closer look at the markets. good morning to you. we had a nice santa claus rally going on here. do you think that this fiscal talk is just going to kill it? > > no, it doesn't look like it. the trend over the last few days is, we have seen the market up, but we have seen it really kind of accelerate toward the end of the day. so, as news has not come out negatively, people are buying into the market. but what is interesting is, we have seen the vix, or volatility index, the protection of the market, also rise over
concerned? >>guest: that is right. with washington, politicians are leaving early and their job is not done this is a concern, a concern because it sends a bad message to the american people and the timing could not be worst. this is just ahead of super saturday, the second biggest shopping day of the year, ahead of time is short as you know, we are close to the end of the year and we are staring at gun of our biggest tax increase in american history and this is dangerous times and they go on vacation? what message is that sending to the american people who work hard, are told when you get ahead in the country you get to work early and stay late and get the job done. they didn't get that memo in washington. >>neil: they did not, and you are more aggressive than my tip number one as a super hero. melissa, coughing this last night, do they realize the gravity of this, a vote being canceled, fine. but you have to get back and do smith. >>guest: they could not -- what i win, when they went on vacation, could they stop spending while they are on vacation? why does the register keep ticking along
in washington. but now the press is working in concert with the obama administration. no longer do we have a skeptical media when it comes to confronting power. the president's liberal ideology is compatible with the liberal belief system of many media bosses. and so we are seeing a tremendous power grab in washington. that's not being challenged by many in the media talking points admit very few americans understand what's going on and certainly many voters had no clue in november. just remember, every time. every time a new law is passed, even the good ones the state grows more powerful the individual grows weaker. that's the truth and that's the memo. now for the top story tonight. reaction. joining us from los angeles leslie marshall and from washington kirsten powers, both are democrats and fox news contributors. so on the level of brilliance, kirsten, how would you rate that memo? i don't know what is worse than an f? can i give you a g? >> bill: really? what a tough prop. >> yeah. you know, bill, to bring up cuba and china in connection with to raising taxes. >> bill: you made that
about it. the only thing being we're relying on our leaders in washington to try to craft some sort of solution. >> did you have quotes around the word leader then? i'm only watching your lips. if you were to type that, would there be quotes around leaders? >> yes. >> thank you. i rest my case. >> i'm willing to take those quotes off. >> if they show that they are truly leaders without quotes. >> i come to work every day, my tallahassee paycheck, still in my wallet. i was a reporter. i made $137 a week. and if i had seen that go down to 127, i would have been angry. that was my subsistence. there are people who play for dinner in this country and their subsistence are on the line and they're going to be furious. but they're not going to get furious until they see their paycheck. >> it's going to impact gdp in the first quarter, and the second quarter. americans are feeling like they're protected from the democrats? because they're in lower income households? but they won't be. their paychecks will be less because the payroll tax cut will be gone. the amt, also gone. that will affect
and analysis with a washington perspective from an emmy winning insider. >>you couldn't say it any more powerfully than that. >> current tv, on the roll. (vo)followed by humor and politics with a west coast edge. >>ah, thank you. >>it really is incredible. (vo)bill press and stephanie miller, current's morning news block. weekdays six to noon. very, very excited about that and very proud of that. >>beltway politics from inside the loop. >>we tackle the big issues here in our nation's capital, around the country and around the globe. >>dc columnist and four time emmy winner bill press opens current's morning news block. >>we'll do our best to carry the flag from 6 to 9 every morning. >>liberal and proud of it. >> eliot: there's much we still don't know about the tragedy in newtown but there's a shocking amount we do know about gun violence in this country. first, we know na there are an estimated privately-owned guns in america. we know that guns are responsible for over 30,000 deaths a year. with another 65,000 injured but not killed. we know that almost 20,000
going over the so called fiscal cliff. we have the latest on the talks from washington. mayans predicted the are world would end tomorrow, here in washington that doesn't seem to be creating urgency to get a fisal cliff deal. >> the president called on the house again and again to pass a bill to protect 98 pr of the american frem a tax hike. well... today we're going to do better than that. >> house speaker john boehner movering forward on plan b, extending the current tax rates for those making less than $1 million a year, 99.81% of americans. for the rest micking more than $1 million, tax rates go up. but if plan b doesn't addresssí spending cuts and today, president obama's spokesman was blunt. >> plan b, only thing the house of representatives, republicans and house are focused on how is a multi day exercise in futility. we dozl-iy not have the luxury f exercises in futility. >> boehner says he's done his part, white house andd0oÑ senate democrats haven't done their autos their plan b is to slow walk us over the fiscal cliff. >> the house is expected to vote tonight. some have come
to doing something about the spending problem in washington and the mounting debt that has resulted. we stand ready to continue to dialogue with this president to actually faced the problem. i hope that you see that our colleagues on the other side of the capital can and do likewise and get serious to try to address the real problem of spending so we can get on to the business of growing this economy and getting people back to work. that of mr. speaker? >> a lot of remarks that you made in favor of the bill from last night would only keep a fraction of tax payers from the tax increase and also the president's proposal. >> the president and i had plenty of conversations. i tell the president monday this is my bottom line. the president told meet his numbers of 1.3 trillion dollars in revenue and $850 million in spending cuts was his bottom line and that he could not go any further. we see a situation where because of the political divide in the country and the political divide in washington trying to bridge the differences has been difficult. if it were easy i guarantee you this with bee
in washington. not only sales of existing homes are higher, gdp grew at 3.1%, the fastest rate, much faster rate than first reported. and well over the second quarter growth rate just over 1%. investors welcoming the good news. the s&p up eight, nasdaq six. 3.6 million shares traded on the big board. two sides to watch tomorrow. research in motion, which after the bell reported smaller losses and larger gross margins. and athletic shoemaker nike bringing in $1.14 per share expectations. nike up in the session, and up in after-hours trading as well, the market up again, 10 year treasury yield of 1.80%. existing home sales up almost 6% last month at a seasonally adjusted rate just over 5 million, that is the highest level since november 2009 when buyers were rushing to close deals in order to benefit from a federal tax credit. remember those days? november sales up more than 14% from a year ago. joining us now, richard smith. first i say welcome to you, richard. good to see you. i have good knowledge to the audience i do own stock and make that very clear, this does not happen very often, but it d
the storm zone. >>> and switching gears, now. we have shocking developments from washington overnight. that so-called plan "b," to avoid the fiscal cliff has failed. and president obama is delaying his vacation to hawaii because of the ongoing stalemate. nick ratner has the latest from capitol hill. >> reporter: in a stunning surprise, splits within house republican ranks forced speaker john boehner to cancel a planned vote on his tax cut bill. >> the house will call of the chair. >> reporter: in a statement, speaker boehner said his plan "b" tax bill did not have sufficient support to pass. the speaker said, it's now up to the president to avert the fiscal cliff. boehner, earlier, had said he hoped to revive stalled white house negotiations. >> the president and i are going to have to work together to solve those challenges. >> reporter: many house republicans told party leaders they would not support a bill that violated their no tax hike pledge to raise tax rate, even on millionaires. senators have been told to plan on being back in washington two days after christmas, in an effort
that there are steps the nation can take to protect our rights and to protect our children. meanwhile, washington also got to work on gun chrome. vice president joe biden held the first meeting of the task force charged with reviewing the country's gun laws and recommending changes. the president wants some concrete proposals in hand by his state of the union address next month. >> the president is absolutely committed to keeping his promise that we will act and we will act in a way that is designed even if he says we could only save one life, we have to take action. >> the focus of the task force goes beyond gun policy. it will also look at mental health issues, emergency response procedures and school readiness. even the media's role in guns and violence. >>> the national rifle association plans a news conference in washington this morning at 7:45 a.m. pacific time. it's going tonight first time that the nra will make officials comments on the connecticut shooting out of a press relief. they opted to wait out of respect for the victims' families. >>> a gun buy-back program was successful. the oaklan
we requested but were ignored that the line should terminate beyond washington square. now is the time for you to offer our merchants the low city treasurerance engineering termination of option 4 that will let us residents, russian hill, telegraph hill, golden gateway, chinatown, commute to work in a modern city's rapid transit vehicle. thank you. * >> next speaker, please. >> eric scott followed by julie christian son, and then joan wood. >> good afternoon. >>> this is not a project that's intended to benefit a single neighborhood. this is a project that's intended to benefit all san franciscans. when it was originally proposed to the public, the timelines and the cost estimates were based upon completion this year with revenue service starting no later than next year. there are very few projects that get better by being delayed. they just get more expensive. and all of the calls for additional environmental reviews. the frivolous lawsuits and so on, these are the things that are responsible for the explosion in the costs. we don't have to take this thing out through colu
live to washington. the very latest details. >>> and michael phelps' pick for the athlete of the year. this is a surprise. this guy, he never wins anything. good morning. welcome to "early start," everyone. i'm john berman. >> i'm zoraida sambolin. it's nice to have you with us. it is early, 5:00 a.m. in the east. the fury of the first winter storm is making holiday travel very difficult if not impossible. today new england is expected to get slammed by that storm. at least seven traffic-related deaths in four states are blamed on this crazy severe weather. as the storm barrelled through the plains and the great lakes, more than a foot of wet, heavy snow fell in parts of iowa and wisconsin. there were hundreds of flights canceled right at the height of the holiday travel, as you very well know. check this out. power lines sparking. look at that. and snapping. >> holy -- wow. >> and the storm's worst, 400,000 power customers in the region had no electricity. that number was down to 133,000 by yesterday afternoon. rob marciano, you are busy tracking it all at the cnn weather center in a
appreciate your time. robert costa is the washington editor for national review and a contributor to cnbc's kudlow report and msnbc political analyst david corn is the washington bureau chief for mother jones magazine. bob, you really had the backstory on what went on last night. i'm surprised to hear the congressman say it wasn't just the most conservative members of the republican house. does that comport with your understanding? >> sure. there are a few moderates who were against -- >> a few. >> a few, but this was really driven by the conservatives in the house who went to john boehner at 7:00 last night and they say we cannot support this at all. remember, there are 241 republicans in the house. boehner could risk having 24 defections. i hear the number was between 30, 50, maybe even 60 defectors. boehner pulled the entire thing from the floor, went ahead of the conference, said a prayer about serenity, and pulled the entire thing from the floor and sent everybody home. >> what was the basic objection. the congressman just said it wasn't a perception they would be participating in a
. >> kimberly: this is a fox news alert. breaking news in washington on the fiscal cliff standoff. the drama is intensifying, minute by minute. we're awaiting president obama who will deliver statement on the negotiation moments from now at the white house after speaker john boehner plan "b" failed to move forward in the house last night. fox senior correspondent ed henry is in the briefing room. sned >> reporter: good evening. we're told the president is meeting with harry reid. they are trying to figure some way out here. the senate out until a day or so after christmas. house members have been cut loose after the plan "b," you noted, failed last night. they are said to be not that far apart, president and speaker boehner on $4 trillion debt deal. plan "a." couple hundred billion dollars apart in spending cut and new tax increases. yet, those have internally been shut down for several days since boehner introduced plan "b." frustration in the white house they believe that speaker boehner wasted several days dealing with plan "b" and couldn't get it through a republican house. th
a definite offer from the speaker. >>reporter: jonathan karl reporting from washington. senators told to plan to be back in washington two days after christmas in an effort to the avoid going off that fiscal cliff. >> all right now to your utility bill it is about to go up. tell you in a decision that came down today rate payers will cover the majority of the price to try to prevent another san bruno disaster. story tonight from john alsto alston. >> pg&e customers will pay for most of the repairs upgrades as a result of the explosion that leveled the san bruno neighborhood and killed 8 people including renee morales daughter. >> i can't even bear to understand why they are continuing to allow to make deals behind closed doors. allowed rate increases. allowed to continue to go as business as usual. >>reporter: cpuc approved a rate indlees will headache the average bill by 1 dollar to 2 dollars per month. pg&e has to test nearly 800 miles of pipeline, replacing some portions and installing automatic shut off valves. it's a 2.2 billion dollar upgrade. today the commission ruled tha
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